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Business, 30.03.2020 16:14 keyonnaallen2004

Identify characteristics of a consumer loan in the following list. Check all that apply.

Has no specified repayment plan except periodically due minimum payments Is informally arranged
Used to pay for comparatively expensive and infrequent purchases
Can be used repeatedly as long as it is not canceled
Has a formal, negotiated contract Used for a one-time transaction for a specific purpose

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